Brexit scenario would spark year-long recession for UK
(VOVworld) – The UK would suffer a year-long recession if its voters say “yes” to the Brexit scenario in the referendum scheduled to take place on June 23rd, to decide whether Britain should leave or remain in the European Union.
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| British Finance Secretary George Osborne |
British Finance Secretary George Osborne made the warning as part of the campaign to urge the Britain to remain in the EU. A recent survey showed that many British voters are in favor of staying in the EU but the final result is unpredictable. British Prime Minister David Cameron and Finance Minister George Osborne both have led the campaign to stay in the EU, stressing that Brexit scenario would harm the economy.